On the interplay between speculative bubbles and productive investment
نویسندگان
چکیده
منابع مشابه
On Testing for Speculative Bubbles
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Motivated by the behavior of asset prices, trading volume and price volatility during historical episodes of asset price bubbles, we present a continuous time equilibrium model where overconfidence generates disagreements among agents regarding asset fundamentals. With short-sale constraints, an asset owner has an option to sell the asset to other overconfident agents when they have more optimi...
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A taxonomy of large financial crashes proposed in the literature locates the burst of speculative bubbles due to endogenous causes in the framework of extreme stock market crashes, defined as falls of market prices that are outlier with respect to the bulk of drawdown price movement distribution. This paper goes on deeper in the analysis providing a further characterization of the rising part o...
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phatic communion is a cultural concept which differs across cultures. according to hofstede (2001), the u.s. tends to have individualistic culture; however, asian countries tend to have collectivistic cultures. these cultures view phatic communion differently. in individualistic cultures like u.s., phatic communion reflects speakers’ socio-cultural relationships in conversations. to see whether...
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ژورنال
عنوان ژورنال: European Economic Review
سال: 2019
ISSN: 0014-2921
DOI: 10.1016/j.euroecorev.2018.11.002